WMSL's long term loan liability of about Rs 1,095 crore stands fully repaid.
Welspun Group will be recieving capital infusion of USD 500 million from PE Apollo Global Management to expand its presence in the global oil and gas pipe market.
Steel companies are upset with the oil ministry's directive on allocation of gas from the KG-D6 basin. Welspun Maxsteel has moved the High Court and has alleged that the oil ministry over-rode the stated EGoM policy.
The Bombay High Court on Thursday directed Union Government to file its response to the petition filed by Welspun Maxsteel and Ispat Industries, major producers of sponge iron, challenging drastic reduction in gas allocation.